In light of advanced data for GBP futures markets from CME Group, open interest extended the choppy activity on Thursday and dropped by almost 1.5K contracts. On the opposite side, volume rose for yet another session, this time by nearly 3.3K contracts.
GBP/USD looks supported near 1.30
Cable’s drop and rebound from the 1.30 region on Thursday was in tandem with rising volume and diminishing open interest, leaving the scenario of further consolidation unchanged, at least in the short-term horizon. That said, so far yearly lows in the 1.30 neighbourhood emerged as quite a decent support for the time being.
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